John’s Blog

9-29-08

Dear friends,

Wow – What a week with the economic meltdown, frantic negotiations in Congress and the President and Paulsen trying to steer lawmakers into an agreement.  On top of this is the continuing drama playing out with banks and investment firms selling to each other.

Today the Fed pumped $650 billion into the banking system to help with liquidity issues to try and pump up the banks ability to make loans.  Congress was set to vote today about spending $250 Billion of the $700 billion asked for.  Another $100 billion would follow with the framework in place to spend even more to purchase bad mortgage assets.

The House failed to pass this legislation today.

As one would expect, consumer confidence is falling and this will translate to a sorry holiday season for those of us who distribute and transport goods.  With credit drying up we are looking at a very strange time and one that is unprecedented in recent history.

We are seeing many of our clients taking a hard look at their business and strategy for 2009.  In my view the winners will be those companies that don’t panic and prepare themselves for a shift in consumer buying attitude that will come as this mess sorts itself out.

Regardless, we have business to conduct and we are doing so.  Wagner’s new Denver operation is up and running with a lot of tasks completed in the last 30 days. From lease signing to having Red Prairie installed and the facility staffed I am very proud of the Wagner team and their can-do spirit.

Once again the Wagner team has delivered a project on-time and on budget.

Keep smiling!

John Wagner Jr.